President Donald Trump on Thursday warned off BRICS member countries from replacing the U.S. dollar as a reserve currency by repeating a 100%-tariffs threat he had made weeks after winning the November presidential elections.

The recent BRICS Summit, held in Kazan, Russia, from October 22 to 24, 2024, focused on promoting currency cooperation and exploring alternatives to the dollar. Through initiatives like enabling trade in local currencies,

U.S. President Donald Trump has threatened 100-percent tariffs on BRICS countries over their efforts to create a new currency and move away from the U.S. dollar.